The iconic Battersea Power Station development has been hit by the coronavirus pandemic and left some agents forced to slash the prices of the luxury flats currently under construction.
As the huge decommissioned coal-fired power plant – located on the south banks of the Thames – undergoes a seven-phase redevelopment project estimated to cost around £9 billion, agents have had to cut the prices of some of the luxury flats amid the pandemic.
While many of the palatial pads offer incredible river views and come with stunning glass interiors and tasteful decor, at least six of the flats being sold on Right Move both inside the power station and just outside of it in phase three of the redevelopment have had their prices cut – with one by £300,000.
Copperstone Ltd CEO Sajid Bashir, whose company is selling flats at the power station, said sales had been affected amid the pandemic.
A two bedroom apartment currently being constructed inside Battersea Power Station has seen its price slashed by £300,000 and is now worth £1.3million. The property is located just outside the power station in phase three of the redevelopment area
The flat is located on the tenth floor apartment is on the tenth floor of the Battersea Roof Gardens building in Phase 3 of the Battersea Power Station development
Another apartment which has now seen its prices slashed is this two bedroom apartment at Faraday House close. The property which sits just outside Battersea Power Station is on the market for £850,000
The luxury property is finished to a very high standard and comes with an integrated kitchen and reception room and two bedrooms
The huge decommissioned coal-fired power plant will undergo a seven-phase redevelopment project estimated to cost around £9 billion
According to Right Move, six of the 33 properties listed at Battersea Power Station had their prices cut and three of the properties are inside the power station itself.
This includes a two-bedroom flat being sold by Copperstones which was reduced to £1.3 million earlier this month.
While house sales across the country dropped by 50 per cent in May amid the coronavirus pandemic, Mr Bashir said that last month sales had picked up and added: ‘We sold more in July than in the whole of 2019.’
Tech giant Apple is opening an office in the building – and the Northern Line is extending to the area next year – making it one of the trendiest spots in London.
Battersea Power Station Development Company also claimed that interest from buyers was still strong, despite the global pandemic.
A spokeswoman said: ‘This can be attributed to several factors including the development’s riverside location, proximity to Battersea Park’s 200 acres of open, green space and excellent transport links.
‘They are set to improve further next year with the opening of a new Zone 1 London Underground Tube Station as part of the Northern Line Extension.
A three bedroom penthouse situated in The Boiler House inside Battersea Power Station in London has also seen its prices slashed amid the coronavirus pandemic
This three bedroom apartment for sale Battersea Power Station, Nine Elms, London SW8, is among the properties that has seen a reduction in its price and is currently on the market for £5,250,000. The flat is located inside the power station in phase 2
Another two bedroom apartment for sale at Fladgate House in Battersea Power Station, Battersea, which offers splendid views of the surrounding city is being developed in is currently located just outside the power station in phase three. It is on the market for £1,175,000
The two bedroom apartment located in Fladgate House, just outside the power station, features a modern kitchen with wooden flooring and a cream worktop
The apartment, which is currently under construction, offers views of the outside power station and a seating area for guests
‘Construction work has been progressing well, with the Power Station’s first residents due to move into their new homes in the iconic building in Spring 2021.’
She explained there are currently 1,200 people living at Circus West Village, the first phase of the project to complete.
The first affordable houses will be completed next year, and the aim is to finish all eight phases towards the end of the 2020s.
She added: ‘Battersea Power Station is a truly mixed-use neighbourhood, which, when complete, will include a new London campus for Apple inside the iconic Power Station, a wide variety of shops, restaurants, bars and cafes, events spaces, new buildings designed by renowned architects Foster + Partners and Gehry Partners and several acres of open, public space.
‘As well as lettings remaining strong, re-sales of homes at Circus West Village have proved to be profitable for home-owners, with many buyers choosing to re-invest in future phases, evidencing the continued demand for living at Battersea Power Station.’
A one bedroom apartment currently on sale at Fladgate House in phase three of the Battersea Power Station redevelopment project is now on sale for £625,000
The flat lends itself to the open plan kitchen reception room and provided ample living space for dining and relaxation
A two bedroom apartment is on sale at Faraday House in the Battersea Power Station redevelopment area for £850,000
The property offers an outside seating area and comprises of a fully- equipped and integrated kitchen and reception room and two bathrooms
The redevelopment project is estimated to cost around £8 billion and will provide an array of palatial pads offer incredible river views